Inter&Co acquires real estate investment start-up YellowFi
Inter&Co has acquired alternative investment firm YellowFi for an undisclosed sum as it looks to add real estate investing to its roster of services.
Inter&Co acquires 100% of the share capital of YellowFi
Inter&Co provides financial and digital commerce services through its ‘super-app’ to more than 25 million users across Brazil and the US. The app includes banking, investment, credit, insurance and cross-border payments services, as well as a retail marketplace.
YellowFi is a mortgage originator and fund manager that aims to democratise access to real estate investing. Its managed fund, Brickell Bay Mortgage Opportunity Fund LP, has invested in residential mortgage loans across the United States since 2018.
Inter&Co says the deal enables the firm to expand the “suite of solutions offered to clients that want to save, transact and invest in the United States by enabling them to invest in the US real estate sector through YellowFi’s managed fund”.
As part of the acquisition, Cassio Segura, partner of YellowFi and the former CEO of Banco do Brasil Americas, joins Inter’s executive team to help oversee and grow the business.
Inter&Co CEO João Vitor Menin says: “This bolt-on transaction illustrates Inter’s approach to inorganic growth and the expansion of products offered to our growing base of clients.
“We are adding complementary capabilities that are capital-light and that can easily be plugged into our ecosystem, as well as acquiring talent and product expertise.”
